In December 2017, Semiconductor Manufacturing International Corporation (SMIC) successfully raised funds of 972 million U.S. dollars with the issuance of additional shares and subordinated perpetual convertible bonds to complete the largest amount of equity financing since its IPO.
SMIC, headquartered in Shanghai, listed both on the NYSE and the HKSE, marked as one of the world's leading integrated circuit foundry companies, and also China's largest and most technologically advanced integrated circuit foundry company. This SMIC's equity deal set a number of firsts in the overseas capital markets: the largest issuance project in HKSE history for issuing stock and stock related products simultaneously; the largest issuance among technology stocks in the primary market; the only public company in the last five years to issue the structured convertible bonds with non-negotiable and no coupon to reset in the Asia-Pacific region.
